Coinbase Announces SEAM Token Listing and Airdrop

Coinbase, a major player in the crypto exchange market, has made a significant move by listing SEAM, the governance token of Seamless Protocol. This decision marks a new chapter in the exchange’s offerings, especially as SEAM is a Base-based token, a notable pivot in Coinbase’s strategy.

Seamless Integration with Coinbase’s Day-One Listings

Coinbase has a reputation for its selective day-one listings, where tokens become available on the platform on the same day as their generation event. Consequently, SEAM has joined this exclusive club alongside recent additions like the gaming token Big Time and Jito’s JTO token. This listing strategy emphasizes Coinbase’s commitment to offering its users fresh and promising digital assets.

Seamless Protocol operates as a decentralized lending and borrowing platform. Launched as a fork on Aave v3, an Ethereum-based protocol, it is built on Base, an Ethereum Layer 2 network incubated by Coinbase. In addition, the project stands out for not raising funds through equity sales or the SEAM token, highlighting its commitment to a fair launch approach.

SEAM Airdrop: A Community-Centric Approach

The SEAM airdrop commences in tandem with the token’s listing. The token’s total supply is capped at 100 million, with a significant 69% allocated to the community. This distribution strategy reinforces the Protocol’s community-focused ethos. However, eligible users for the airdrop are early supporters who participated in various community activities and quests.

Coinbase’s addition of SEAM is more than just a new token listing since it represents a broader shift in the platform’s approach to decentralized finance (DeFi). Moreover, as a native Base-based project, SEAM’s inclusion is a testament to the growing influence of DeFi platforms and their tokens in the broader crypto market.

Read Also: US Senator Elizabeth Warren Targets Crypto in New Regulatory Bill

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Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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